Civil Law

The DOL Updates the QPAM Exemption from Prohibited Transaction Restrictions under ERISA (US)

The Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and the Internal Revenue Code Of 1986, as amended (“Code”) contain broad prohibitions on transactions between ERISA-covered employee benefit plans and Individual Retirement Accounts (“Plans”), as well as certain people or entities closely connected to such Plans, known as “parties in interest” or “disqualified persons”. Absent an exemption, the types of transactions that are prohibited include sales and leases or loans between a Plan and a party or parties … Read the rest

Supreme Court

Wonder Bread truck drivers seek exemption from mandatory arbitration

Wonder Bread truck drivers seek exemption from mandatory arbitration

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Bissonnette v. LePage Bakeries Park St. brings the justices yet another case under a statute with which they are all too familiar – the Federal Arbitration Act. As regular readers will know, the court in the last few decades has heard numerous cases under the FAA. The great majority of those cases have involved arguments, by workers or customers, that for one reason or another courts should not enforce a pre-dispute arbitration agreement against them. And in almost all … Read the rest